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Tagged with "churning"

FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

Posted on July 9th, 2026 at 12:52 PM
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

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Waddell & Reed Ordered to Pay $776,000 Over Reverse Churning

Posted on October 6th, 2022 at 2:48 PM
Waddell & Reed Ordered to Pay $776,000 Over Reverse Churning

Waddell & Reed has agreed to pay nearly $776,000 to settle charges of misconduct over one of its wrap fee programs, according to the Securities and Exchange Commission (SEC). 

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FINRA Study Finds Advanced Investment Knowledge Does Not Eliminate Fraud Risk

Research using the FINRA Investor Education Foundation's 2024 National Financial Capability Study found that fewer than one in five investors with non-retirement investments demonstrate advanced investment literacy.

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SEC Targets Companies in Alleged $15 Million Social Media Investment Fraud Schemes

The Securities and Exchange Commission (SEC) has charged entities behind two alleged investment fraud schemes that raised more than $15 million from investors through WhatsApp, Facebook and other online platforms.